Bitcoin Forum

I am seeking the opinion of the experienced and voicing my opinion.

I think if a training is 100% for learning, 1% of it is technical analysis and the rest 99% is psychological games..Because I have been learning and trading technical analysis for a long time but mostly I lose. I am still learning after that. I've noticed lately that big investors can handle trading as they please. Because they have a lot of funds, if they take a small amount, they take big trades and destroy it. In which case technical analysis is not enough. And I think psychological analysis plays a big role along with technical analysis.


But I don't have any psychological knowledge about trading. Looking for expert opinion on psychological mind set.

In a bull market, I think the TA may not work at some point, it follows certain behavior as the market reacts to the sentiments but TA does work in most cases when the market goes sideways or even in the bear market.

The only psychological in trading is controlling the trader's greed which is why most advice says don't be too emotional about it. Sometimes when a trader can't wait for the right price and just keeps buying and not knowing why, he'll end up losing.

If you want a market that investors are not manipulating, go for high marketcap coins like bitcoin. You are trading low marketcap coin is the reason you are seeing manipulation.

Technical analysis is still very important in trading.

Trading is very risky generally, even including trading bitcoin.

There is nothing like psychological analysis. The third type of analysis is sentimental.

Trade with amount of money that you can afford to lose.

Look for more strategies to win. You can try averaging.

That means you are more suited to playing fundamental analysis. Because many traders, including me, can say that technical analysis really works and can provide profits if we can understand how the market works. Indeed, at one time, when news came out/political conditions suddenly got worse, no analysis could work, no matter how good you were at fundamental or technical analysis. So it comes back to market conditions.

TA  means: Technical Analysis.

Yes I will keep your words in mind that greed must always be controlled I am like this.

Think I've taken a trad and that trade is profitable but at that point I'll be craving more to make a little more profit. Just after a while it will be seen that my profit amount is decreasing little by little.  ;D

Again when there is no trade maybe or going towards loss my stop loss is close to what is given then fear works in the mind which comes out little by little. Maybe I got out and then the market started to go up again. That kind of risk works in my mind.  :-\

Maybe that's why I haven't been able to set my mind till now. Thanks for your feedback. :D

I think the market still depends a lot on the political situation. Can you give me some tips so that I can succeed in this matter.

And I think fundamental analysis is not very effective in short term trade. If you say something wrong, you will look at it with a look of forgiveness. Thanks for your feedback. :D

Technical analysis of Bitcoin in the medium and long term gives good results, and you must update your plan every few weeks so that it is not rigid in a goal you set months ago and changes occurred in the market after that, but your use of technical analysis in the long term will enhance your profits.
In the short term, technical analysis may not give excellent results, and it is better to consider it as an auxiliary tool alongside other tools.
As for altcoins, technical analysis does not work well with them.

If there's anything like psychological analysis in crypto trading, it'll have to do with the trader being emotional and it might lead him to not focusing on a perticular parten, it can also lead to not knowing the right time to buy or being greedy by not knowing the right time to call it a day. Technical and fundamental analysis are however very important for every trader to understand, but the way that a trader chooses to use them is what matters, trading is hard and that is a fact, so it's good to always trade with the amount that you can afford to loose.

There are fundamental and technical analyses but with psychology, you will have to understand the psychology of market cycles. You don't have to make a psychological analysis because if you do it, you will not be different with people who use fundamental and technical analyses.

By taking psychology of market cycles into your view on the market, you look at long term and by that you accept lags between what you expect and what the market will actually move.

Psychology of market cycles (https://fifthperson.com/psychology-market-cycles/)

I think you are talking about strategy, not psychological analysis. Rich people use their money to manipulate the market - small-cap coins. That is a simple plan which makes them succeed but as @Oshosondy, this is impossible for Bitcoin.

If you are thinking OP that money is important in trading, then forget about TA or any form of marker analysis as you are not just doing trading but manipulation. But for us who are actually enjoying trading and feel that we are trading fairly, then must say that TA is very important. Of course, I don't expect everyone to see how important it is and I don't think it was effective for a trader who does not even believe its help.

It is an eternal question in the market - does technical analysis work? And as long as traders exist, they will ask this question. It is impossible to answer this unequivocally. But I believe that technical analysis works. But it only works if this is understood correctly. For example, if we have a pattern with decreasing volatility, say a converging triangle, then it is natural to expect that the price will eventually move in the same direction for some time after the consolidation ends. Technical analysis is based on simple statistical observations. He is very logical. But, naturally, it does not provide absolute confidence in the forecast. For if someone could make error-free forecasts, they would probably earn all the money in the world. In practice, we all often make mistakes.

Thanks for your feedback. I'm now learning in TA.

Technical analysis and fundamental analysis do not always work 100% correctly there is no method or guarantee which can help you to take 100% correct or profitable trade. The market sometimes relies on sentiments that are sometimes highly bullish or highly bearish. Besides all that, there are a lot of factors on which market prices fluctuate the value of any specific/particular Project or Token.

The Best thing is to always stay up to date in the market and use the stop loss function to avoid or bear any kind of loss. I am not saying we should not do any technical analysis or fundamental analysis before taking any trade actually these also help a lot i mean traders can have an idea about the coming movement of the market by doing technical analysis or fundamental analysis but the thing is that trader should have Good experience of doing technical analysis or fundamental analysis which can help him/her to make a good portfolio by taking trades. DYOR!

Not 100% but it is something that would really be that beneficial or commonly being used by most traders. How you would really be able to know or be able to read up those candlesticks or charts without
having those indicators? You cant really just that assume that it would be going up or down without any basis. You would really be finding its relevance on the time that you would be setting up your foot into this market
on which you would really be finding up these things to be that something important. You would really be needing up to learn up these things and you cant really just that make yourself having that
fundamentals anytime or time to time on which you could based up with your position.

You would be needing to combine TA+FA as much as possible if its available but if its not then stick with TA's but of course and just been said
earlier that it wont really be giving out 100% precision.

It works but not at all times.

Just like what everyone is saying, it may work for many times but there will be times that you can't just see that it works. And as you've said about psychological analysis.

Honestly, any type of analysis that works for you as you trade, you just have to keep on working with it for you to become a profitable trader.

In the case of trading, technical analysis will definitely be needed, if a trader is skilled enough in technical analysis, he will get the opportunity to trade with a good understanding of the market. Most of us traders who are not give much importance to technical analysis rather we try to trade as per our wish but that is where we go wrong. There is a right rule and right time for everything. If we trade only with such an idea without understanding the market, then we are more likely to lose. In order not to lose our money we need to do technical analysis first so that we can understand the market and how the market movement can be so that we can trade. If we trade on the idea that the next movement of the market might be like this, then there is no chance of much loss.

Technical analysis stand the best I have ever seen among all the strategic means of trading that work better though to some may not be, a good analysis can keep you moving in the trade with less loss because one can't eliminate completely issue if why in as much trading is concerned little fraction of loss must be involved. It gives more clarity on price movement mostly when your good in the chart, it works but what I can say conclusively is that it can be relative in the sense that it may not favour all the time also  some person may prefer other method of trading rather than it.

I understand it really depends on the individual. How my skills are depends on me. Skills must be acquired over time.

Skills acquired along the way if we continue to trade and learn. Indeed, losses are not the thing we want to happen but it is been said that it is a helping situation for us to learn how trading works and it also helps us to find ways/strategies that will work in a certain condition. We lose money but we gain knowledge. But this never says that it remains like this as we find ways how to improve our trading skills and using tools such as Technical Analysis brings huge changes to the results. If many traders have seen it was helpful to them, that was impossible it never be helpful to you as well. Maybe it has never been applied right or your analysis needs to improve.

TA works but not all the time especially in cryptomarket since most of the time there’s a hype and FUD in this market which can invalidate your analysis. If you are going to analyze make sure to always set-up your cut loss price to avoid any losses and of course know your target price to secure profit, by this you are making yourself a more profitable trader and a responsible one.

What have you done to learn TA? Because if you keep losing then it is obvious you are doing something wrong, have you really took your time to learn TA? Because this is easy to say but hardly anyone actually does it, have you done this for months, read several books about it, paper trade your strategy and use demo accounts? If you have not then this could easily explain why you keep losing, now if you took the time to do this then it is possible the explanation for your losses comes not from the level of your skills, but your inability to deal with the movements of the market, and in that case learning more about the market psychology could help you.

I think the RSI can be manipulated with high frequency order distribution.

I think the psychological mind set actually shapes who you are In the trading market. There are many great technical analysts there they can predict the market from chart very well but to have that psychology to stay in the market is a problem. A clear example is people that do easily come out of their winning trades just because they are afraid to allow the trade to run and later they regret it because the trade yields a good return. Another people suffering for psychological problems is traders that easily close a losing position easily most of this trade bounce back and goes their way.

The best way to handle your psychology is to trade with an amount you feel you can lose. Using this will allow you to stay without panic as this is the reason why most close there trades. Calculate your position well to check how much you’re going to lose when your trade hits stop loss and then see if you can afford to lose that or change the size. As you progress your psychology will improve with little wins and smaller losses

As much as fundamental analysis is vital, technical analysis also creates high importance most particularly if you are in day trading. Knowing the history of price movements is very essential so you’ll be able to predict the future price of the coins.

However, talking about psychological analysis, which I think is more known as sentiment analysis, the real challenge there is how to keep being optimistic despite of the unpredictable market. By sticking to what you can only afford to lose, that is an effective way to get rid of greed and control your emotions as much as possible, and because trading requires separation from our emotions.

Thanks, That's why I still trying to mastery in TA. Hope I success in the future.

I have worked with RSI but it is wrong in my case. Maybe not yet aware of its proper use. I basically want to master Moving average..

It seems simple to me that there are many mistakes in RSI. If you want you can tell me the correct usage of RSI.

Yes, it works, but don't look at it like a crystal ball where it can predict anything with 100% accuracy because it will never happen.
TA is what the analysts are using aside from the Fundamentals, but even the expert analysts are still making wrong predictions that's why some analysts are sharing their predictions on both sides (downward, and upward).

Now the question is "Does TA work in bull run?" because we know that during the bull run, nothing is going down, but it's all going up. I'm not an expert in TA, but I don't think that it's necessary if you want to invest. What I mean is that, when we are in a bull run, you can still make an analysis, but it doesn't matter because coins are going up at a fast pace.

TA works, but relying on it alone isn't enough. You need to know the sentiment of the investors and the fundamentals.

You would really be finding its relevance on the time that you would really be stepping your foot into this market. You would really be able to realize that you would really be mainly needing it because there's no other
way that you could be able to read up charts and candlesticks but by just through it. This is why it is really that important that you should really be knowing the basics. As you do go far ahead and gaining up sufficient experience then the more you do be able to learn up further advanced TA's on which it is something that would really be beneficial for you.

There are really just those people who cant really be just be able to spend up some time on trying out to learn those things but rather they do make out some speculations out of thin air or
having no basis or simply they are really taking up that gambling method on which its never been that recommendable in the first place.
People who do able to survive and sustain this market are the ones who are really that trying out to earn and have a good grasps.

No one knows how the crypto market will move so that means that technical analysis will only work about 50% of the time and I think that's the most generous percentage of it's effectivity, some have said that it's not going to work at some point and I do agree that it can happen because sometimes things are just so volatile that it's difficult to follow by the book.

From what I have read from your post, it's about the psychological mindset that is set on the "market psychology" not with your personal or self mind when it comes to disciplining and managing your assets/resources. Mindset is one of the things that you would consider if you ever are interested in being successful in trading.

So you need to understand both stances.

• Market Psychology
• Self Psychology

I think there are more technical terms but I can't think of it right now. You really need just to understand how the market would lean or go to and with the self psychology, it would be the controlling of your emotions.

It plays with the technical analysis. It has roles that you need to consider as well.

I can't say that TA is not able to help us get profit from the trading activity that we do or do every time we are inside an exchange platform. But this is only if you have extensive knowledge of trading. Because TA is useless if you have no idea about trading.

Well, according to my observation, when we are at the height of the bull run, I think it is difficult to apply the TA because, of course, the market is unpredictable. And what we're going to see is bullying, and most people know that it's hard to keep up with that, to be honest.

TA is just another tool in the toolbox. Let’s say you are a carpenter. Does a carpenter only use a hammer? No, he has many other tools to shape/fix furniture. TA is just like that. It gives you an idea of where the markets are but it is not the only tool you should depend on. If you only use TA to make your decisions then it won’t do you any good. Does TA work? It works if you are able to see the big picture. In the hands of a blind man, no tool can work.

I think, By big picture you mean the psychology behind the trading. You have explained well but I am convinced that technical analysis does not work 100%. It basically depends on the individual and how they look at it.

Market Psychology: What is the way to understand it? Or market psychology can be understood through technical analysis.

In fact I have been lagging behind for the past six months. Trying to understand know it is not possible to learn or master it in such a short time. But of course I need a better way.

By big picture, I mean your ability to use other tools, bring them together, make an art/product out of them. Like a carpenter or a painter does. Let's say there are 2 different traders. One of them only use TA/indicators and nothing else. The other one can use TA if he wants to but he is also able to make sense out of the major market events and world news. He understands human psychology, he read lots of books about it. He has good education, can understand multiple foreign languages, good at math even though he doesn't really need it for trading... Also he runs a business and knows how to value a business. That means he understands fundamental analysis too.

Imo, the second trader's chances of winning in the long run is like 90% while the first trader who only uses TA has like 10% chances to win. (by "winning", I mean making considerable amount of money. Like doubling or tripling the initial investment)

That doesn't mean that the educated trader can't fail. He very well may turn into a major loser.

Imagine these traders both are chess players. The first one is playing blindfolded because he only has access to one tool. (only his hands lol) The other one has all the advantages. That's the difference between them. Can the first dude win? He can if a lightning bolt strikes the same spot twice.

 That's Cool Men, Thanks. I have to think of different ways and bring something good out of it. :D

50% is just an assumption, it is even lower or higher than that. Not because people did not know or know about TA but also due to the unpredictable market trend. That is why trading is risky and hard as we can't make a perfect call even if we are trading for a long period. This means that using TA or any trading tools never assures a secured profit, we can be wrong and we possibly lose because of the market volatility. If OP is suffering and having difficulties in making analysis, it may be he is not yet good, he possibly needs more time and experience.

Technical analysis works but knowledge of technical analysis is not what is only needed before you can start trading. You need understanding of trends, market structure, moving average etc and then master the psychological side of trading. If a trader master 99% of psychological side of trading and does not understand the 1% of technical analysis, they will still not be successful traders. As a new trader you have to understand all angles and sides of trading is important and generally necessary for your success as a trader, we do not have to pay less attention to one side of trading and expect to become very successful. if you must be very successful as a trader you must pay attention to all aspects of trading both psychologically and technically.

In my opinion, technical analysis works as long as the manipulator allows it to. The manipulator knows very well how to manipulate charts and crowd sentiment. That is why you cannot blindly trust technical analysis. You should treat it as a kind of auxiliary tool, which shows with a certain probability the further price movement (but you should always lay a straw).

The answer is no. Let's put it this way: even experienced and expert traders are still having a hard time doing TA or technical analysis because the market is volatile, so they need a series of analyses and also adding more indicators to the market analysis, and they need to take into consideration the recent movements of a certain currency. In short, doing or coming up with a technical analysis will not be easy either, so you need very consistent learning and also a lot of patience because that's where you will be challenged and may give up through it. But if you are a constant learner, then I think you will come up with a TA that has the potential to earn, but remember that every technical analysis has its margin of error, so your TA should be able to cover that margin of mistakes. Well, anyway, there's no perfect trade; it's up to the trader to decide how good he is or how good his decision-making is.

Technical analysis alone will not create full effectivity, that’s why fundamental and sentiment analysis should also be highly considered. Now, since the market is highly volatile that makes it very unpredictable to predict, sentiment analysis will come in. That will help you not to be emotionally attached to your trades, knowing trading at some point certainly fail that may result into losing of funds. But if you really aim for a highly positive trading outcome, never just focus on its technicalities and fundamentals, know the worth of your sentiments so that you will not regret losing your trades because you are too much focused on your greed on profits.

Yeah I understand. Thank you.

It is true that controlling greed in trading is very difficult. It reduces the amount of profit and increases the amount of loss.

Perfect answer. Thanks dear for your Explanation , :D

Reasonable. They are also looking for profit in market.. ;D ;D

Hockey is also there but it doesn't always come all the time. Yes. In general, technical analysis is also necessary and the most important thing is the timing of market entry and that starts from graphical data and repeated events that we can see, both the pattern of changes in one week, 4 days and 4 hours and that is controlling the price movements and The main thing is to monitor the BTC price first. Apart from that, USDT savings are also required, at least always in our trading account.

Greed is one of the ways we can trade in the market and keep complaining that we are not making any profits from the market.
If we can at least take away greed from our trading journey, we might finally become a good trader if we know what we are doing and how to know go about it staying away from the spirit of greed that could make us to lose in the market.
We can always use technical analysis to analyze the market and try to make money for ourselves if we know what we are doing.

Technical analysis is important for traders to analyze the market but some people will trade and be losing in trading no matter the technical analysis and strategies they are using. Trading is not for everybody. If someone is losing in trading and trying ways to make money but seeing it not working and losing at long time, the person should quit trading is what that is best for the person. Trading is not easy as we think and the emotion we talk about is not easy to control at all. Thinking of trading can even be related to greed because traders prefer to look for money in short period of time like within some minutes or hours. Holding is better and holding means someone do not have greed like traders.

Sure technical analysis works in all types of markets both cryptos,Fx and the stock market.It is the key tool when it comes to analysing any market situations it also helps in gauging the market direction. Technical is most a times more accurate than indicators.

Greed is somehow related to the trader psychological balance so learning how to control your greed is one important factor that should be consider because I can say for sure that even the technical analytic traders still fall short of this greed problem because they fail to evaluate their actions when it comes to knowing when to stop trading. Trading is something that are seen by many as gambling including me myself but I sure do know that some persons have claims that you can actually learn thoroughly through different technically knowledge to actually have an advantage over this but I doubt that many people posses the knowledge.

While the trading market remains unpredictable, it’s crucial to see traders know to use technical analysis. If it works for other successful traders, then most likely it will also work to the current traders these days. However, technical analysis cannot be completely reliable for a trader to succeed. There are a lot of factors to consider in order to trade successfully. Greed is one factor that should be avoided or controlled because if a trader uses greed in most of his trades, expect that he won’t maximize his profits when trading.

Having patience and positive attitudes towards trading contribute also to the success of trading. If one is patient enough not to trade when the market is not favorable to trade, then he might control or minimize his losses if ever.

Technical Analysis works quite fine, but trading is not only about the technical side of it, basically trading base on what you see on the chart, else everyone will be milking the market, there are a couple other things that help you succeed in this market, such as paying attention to the news, manage risks, control greed, have patient with trading set ups because trading is a waiting game because the market is reactive one base on what you see and not predictive. Technical Analysis only helps you to see what is likely to happen in the future and you should react when the scenario has started to play or have given you a clear signal.

Technical analysis is good but as a trader who is not sure about it, it will do you some good if you leave the complicated chart patterns behind and stick with the basics such as understanding candlesticks, support resistance, volume, and momentum.

I am of the opinion that every trader especially beginner trader should use basic technical analysis principles together with fundamental analysis or other strategies as they have shown overtime to be able to offer insights into market sentiment, but it is not advisable to rely mainly on technical indicators. My conclusion is yes, technical analysis works but they are ineffective as a standalone trading strategy.

I Understand what you say. I need to focus more details in the trade. Thanks for your attention,

So true. As a crypto trader, the use of technical analysis is very helpful in predicting prices in the market. Many traders use crypto patterns or cycles to analyze charts to make price predictions so it is easy to read market structure and know which way the market is moving. This should also be accompanied by always following the news so as to provide a higher chance for your trade to turn green. Once you know the structure, all you need to do is minimize the risk. But seriously, technical analysis is just a tool. This is not a magic ball that can predict the future, what drives prices is a combination of technical, fundamental and macroeconomic analysis.

All the analysis gives us valuable insight about the market condition so that we can develop strategies to get a positive outcome. It's not easy to do technical analysis properly but if you can do that it will increase your success rate. With technical analysis and news event we can make a good profit in any market condition.

Trading isn't just about charts and numbers, it's a mental game too. Sure technical analysis matters but your mindset is equally crucial. Handling wins and losses, staying disciplined and understanding market vibes are key. It's more than just knowing when to buy or sell because it's about keeping your cool when things get wild. Getting expert advice on the psychology of trading could be a game-changer, helping you ride the ups and downs with more confidence and savvy decision-making

For some people who are able to understand market conditions well, they will be able to easily use trading strategies that they will use to be able to make a profit from these trades, as you said, maybe there are some traders who can only know when to buy and sell, but they can't handle the wins and failures they get from trading until they experience losses and they can't accept that.

If we have people who can advise us in trading, of course we will be able to make the right decisions in the trading we do and we will be able to control ourselves in trading and will not do it greedily which makes us lose on the trade.

I am currently learning Technical Analysis but I don't pay much attention to news, in fact after listening to you I will focus on this from now on. Focusing on news means regularly monitoring their Twitter profiles. If that's okay then I've mastered another new trick. Thanks 👍

Of course psychology analysis plays a big role. An understanding of what is required to gain knowledge on this subject is essential. Then things will be easy for me.

Not all technical analysis is helpful to us because most of the analyses we do do not favor what we see and observe in terms of price value. Maybe at another point, it can help when our
analysis matches the reading on the chart or graph.

In other words, he is helpful, so I think maybe around 40%. I just thought about it. Because the market is unpredictable, that's why I can say this.

Yes you're right, technical analysis not work properly, Most of time I falling the trap and get losses.

For me, if you want to become a profitable trader, technical analysis is your friend. Because if you say psychological games then means you are gambling, its more likely you are relying on luck.
Maybe if something is wrong with your technical analysis, then you are doing it wrong, try to learn more and identify the problems you encountered, because for me  it's difficult to master technical analysis.

i think Technical analysis & psychological analyze both of most important parts in the crypto trading, because trading is also psychological game, if you can't control your emotion then high possibility to loses everything, psychological analyzing can protect you from greed.

I would say it is even more important than the rational of analysis and charts, and the OP has also pointed this out. What is not often stated in all the marketing of trading is the percentage of intraday traders who make money over the long term. They should be forced to put it big in every trading ad, covert or not. Things like psychology or that stop losses do not always work, are more important than a supposed system that they try to sell you and with which 95% of people or more lose money.

Of course I am always trying to learn something new. I'm taking a subject and making mistakes, learning, making mistakes and trying to learn something new.

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I too have already lost a lot and am trying to learn new things to earn money from. In fact, it is very difficult to understand when the market will go up and when it will go down. I thought one thing became another.It's really sad that there is no end to learning so I'm trying harder to do better here.

Straight way answer to your question is Yes.  It does work but it doesn't work 100% independently. There's still need for fundamental analysis and sentiment analysis to win against the market.

Do they actually learn psychology of trading? I think that comes naturally when you begin to have experience in trading. Psychological behaviour comes with accumulated experience and not necessarily learnt in trading.

If a trader is doing technical analysis and using some strategy for trading and is still failing, it means that they are not doing something right and they need to evaluate their trading practices and not quit trading. Quitting should never be an option, one can improve over time if they are dedicated and determined to what they are trying to achieve, and trading is no exception in this matter. So, a trader shouldn't quit but they should learn more and practice.

There are a lot of people for whom trading might not work initially, but if they give up and stop doing it, they can never be success. Success becomes the faith of those who don't give up but keep trying and improving their skills. One can practice more and then evaluate themselves every time they start getting into the market.

If you witnessing any hard time in trading then you should look out for the coin you are trading, in most cases it's better to trade with those well known coin than trading with some newly birth coin where you would think to make all manner of profits along the line. If you trade with coin BNB, ETH and BTC you would definitely find it hard to undergo lost while trading because they aren't that manipulative to knowledge, watch carefully you would noticed that most of the people who trades bitcoin during bull run they seems to seize their operation because holding at moment is best preferable than keep trading nobody wants to lose their bitcoin at cause of trading to make profits. 

The reason you lose often is either because you allowed your emotions to becloud your readings of your trading strategy or your strategy isn't top notch. I admit that TA isn't 100% accurate, there could be lapses here and there but a good TA won't make you lose all the time. There's that 80–90% winning rate with a good technical analysis.

They may have a lot of funds like you said but also remember that they also factor in their risk level to it. Without taking care of risk level or appetite, even huge capital will easily go to zero.

Psychological knowledge is just guts feelings. That's what gamblers use. Except you see trading as gambling, you won't want to resort to psychological mindset.

Hockey? But, why is it involved here lol. What I know is it's a kind of sport and it was played in ice or snow but maybe you think ice or snow isn't always there but there must be an indoor place to retain them so that hockey can always be played at all times.

Trading on the other hand, can be done by a simple buying and selling so TA's can be optional and even if we include or do them, it won't still guarantee us a perfect trade at all times.

Almost all coins are most of the times dependent on the price of BTC, so your suggestion of monitoring the price of BTC is helpful to know if which actions we are going to make. The last suggestion you gave, might be for us to buy immediately. It's great as we know volatility in cryptos are high.

It might not work always but you can not still do without it because it is a tool you can not do without when you want to trade, it might not exactly happen the way you predicted it, but it reduces your chances of losing and also gives you better chance to make money to because if your prediction is accurate just imagine the amount of money you will make from it and those that put a lot of effort into the reading of the chart hardly lose money because there is a caution to be taking while wanting to trade, but holding is safer than trading because people that are seriously into trading, are those that do futures spot traders don't have anything to fear because mostly buy and sell they do not have any fear compare to people that are into futures. and people who run away from trading are those who do not want to study because you won't do well in trading if you do not study technical analysis.

Basically each coin has its own price volatility, regardless of its high or low - but trading for the top coins allows traders to make better analysis due to their fundamentals. New altcoins are generally still influenced by hype especially as the team is aggressively developing the project - but over time their trading volumes will drop drastically and in many cases price manipulation such as pump and dump schemes is common.

But of course it is not a problem if traders can consider the risks for their respective coins of choice, we are never responsible for profits and losses. They can make analyzes and trade with their own strategies - but giving them advice is not a problem.

In my opinion, trading science is divided into 3 parts, of course the biggest is psychology, and the second is money management, and the smallest that determines trading success is technical analysis. Technical analysis is not unimportant, because most people look for the best techniques for trading, even though analysis is our way of getting a measurable framework so that we can minimize risk, and of course our portfolio can run according to logical targets.

Yes, Most of the people that usually succeed in trading and make huge profits from the day to day Trading or stocking dear capital, this is because the people that usually make this kind of profits is that the start Trading with a huge capital that enable them make little profit out of it and this is because they are capital is more and they started trading with good capital so delete profits they make from the capital cannot be compare with someone that started trading with small capital, in general, most of the Trading is been analyze by the previous Trading, and following the trending and the current situation of the market before they put in their capitals. I usually are  known this very well that most people take signals from the current situation of the market I’m following the trends and what is actually going on on the market. This is what a beginner trade have to take Notes, trading is more better when you understand the movements of the particular trades you are going into and make sure you always ask questions and following the market, this is what happens to Trading with a little capital, you make little Profit out of it meanwhile, a different person that starts the same trading with huge amounts make the same profit but since the capital is much, they make more profits than you that started trading with small capital

Totally inevitable i should say on which there's no way that you could really be able to make yourself hover on doing or making trades without having technical analysis is surely gambling or something we should say
that they are really just that making trading positions on pure intuition or pure guess on which we know that it isnt really something recommended. This is why it would really be that better that you should make use of TA
whenever you do hover yourself into this market. You cant really just that survive on just pure guess or without using up these tools. You would really be finding it relevant for you to learn up these things
so that you do at least know on what you are doing.

Just like been said that not all the times on which people would really be able to see some fundamentals or news around on which you could really make use of it.
Dont tend to have those kind of approach on making something that wont really be beneficial for long term. You might be able to make some winning or profitable trades without having much
use of TA but that wont took long, sooner or later you would really be able to see its relevance.

Great answer. So now I'm just focus on my Goal.

Of course you need to have a long term plan when investing in Bitcoin. It doesn't matter how much money you invest but you should always try to invest for the long term. Of course, you need to acquire enough knowledge about investment before investing. If you don't have enough knowledge about investment, then you will not be able to properly analyze the market, in which case you will not be so successful in investing, and there will be a possibility of loss. But if you want to invest in bitcoins you should always have a long term plan, be patient and check the market and invest for a long term if you can invest like this then you can definitely succeed in investing.

Technical Analysis has its purpose but for some reason, it was a failure for some traders because of the wrong basis of analysis. It was not just price charts but also we consider their news and market events as they are also influential on the market trend. Of course, there is no such thing as perfection but at least doing this right will give us a chance to earn rather than trade with no basis.

Of course, it never works for all traders because not all are using the same trading pairs and not all are doing this at the same time. It is exactly to ask why some make a profit while some have a loss, it is because not all have the same idea and strategies, and it varies on their actions and decisions.

Technical analysis is important and it works though that's not all, maybe you should be getting intouch with news from the crypto market after which you back it up with your analysis and you trade.

And when you analyze stick to your plan no matter what. Study the best areas to place your stop and tp very important.for me I do increase my stop lose a little and reduce my profit margin because I discovered most of my trade hit sl and play out perfectly afterwards while some trades to my tp region and bounces back. So discover what works perfectly for you and try doing it exactly all the time it might help.

That bold part is so important, most people do technical analysis but they do not end up sticking with it, they see what they should do and they realize what would be better for them and yet after a while they end up with something wrong, which they shouldn't really be doing. I personally believe that we could make a lot more money if we were a bit more robotic or bots are just a bit more human.

A combination of both is a lot better, bots do not see the news and calculate that unfortunately, it just looks at the chart but chart and rumours go hand in hand together, we see the rumours AND the charts but we fail at sticking to it in the end. This is why we end up making a loss just because we didn't stick with it.

right, i agree with you. mindset and technical analysis both of similarly important to start crypto,forex or other any trading. because many traders can not control their emotion then they made mistake and got big losses, technical analysis will help to about right time to entry and sell with profit.

That's why trading is not likely to be done by everyone. There is very less chance for someone to get success in trading because it requires a lot of patience and money to be expert in this field.The big players are already controlling the market somehow and we have to invest according to their interest but who knows?

It's not possible to read someone's mind. Yes we can predict their interest and where they'll invest but it's not more than just a prediction.Technical research is somehow related to psychological research because they also want to have profits on their investments so they'll probably choose the better options.The only solution to this is invest in safer coins like BTC,ETH e.t.c and then hodl

Retail trading is a whole different ball game especially that most traders want to be overnight millionaires, and btw there is a whole lot of stuff that goes on to be a profitable trader!
Are you trading with money you can afford to lose?? There is a saying " if you can't buy it twice then you can't afford it" and I believe in this saying because if you are trading and you are always thinking about where you will need to get your next funds to fund your account then it will negatively affect your psychological...so to be  profitable it's actually 1% Skill and 99% Patience.. reason for this is that people have the skill but what fails them mostly is the FOMO---lack of patience!!! If traders can work on their patience, I believe everything will be okay.


For a change of mindset, practice more to have more confidence in your strategy and know how to manage your trades.

Eumm.. it doesn't seem to work for most coins, especially coins with low liquidity. Even for Bitcoin, it is only suitable for long-term analysis, because until now I believe more in market manipulation than in technical analysis. It's a little crueler, but it's true, no matter how clever we are at drawing charts, believe me it won't guarantee good accuracy in the short term.

In bullish and bearish moments such as high candlesticks in one day, it is really not in control of the picture on the chart. But more often it is present because something special is happening at that time.

Actually the working of a TA could actually be relative and this could have some kind of dependence on your strategy, there are strategy that helps you get to see more opportunities in the bull market much more than you would in the bear market but if you think you would always see opportunities with your TA then you are still gambling and not trading yet. The application of T A can actually work in both the bull and bear market depending on the trend and the opportunity you are looking out for based on your confluence of entries and your strategy to trade a particular trend or market.

Traders greed has got a whole lot to do with their psychology, if they could actually keep their psychology in check, they are very likely to be able to still trade profitably and cut down on their greed as greed at some point cannot be totally eliminated even amongst professional traders but discipline and proper trading psychology helps save the day.

I think in some other way technical analysis is still helpful to traders who do trading activity every day. Because this is what I do when I do day trade sometimes when I'm not too busy with what I'm doing.

But I also don't deny that in all cases my analysis is correct, actually most of the time it's even wrong, that's why I always train myself in this matter to be honest. Because in the first place I thought its easy to do it but I was wrong about it honestly speaking.

Not "still" helpful but rather it is really that indeed helpful. You cant just step into this market without making use of this technicals because if you do really just based up on news then this market doesnt really have always the news that you could look into or you could really make use on because if you are just basing on that then you wont really be finding yourself into this market to be that effective or something that you could really be able to sustain. You would really be needing to learn up different variations or ways or methods as long it would really be something that relevant on dealing up with the market then you would really be needing to do it.

Just like the rest been saying that there's no such thing about assurance on using up technicals on which it doesnt guarantee success but at least you do know that you have make use of something
which is relevant rather than on making some entries without having any basis or analysis on which it is really just that making you that doing gambling in pure random mode
or simply you are just doing gambling because you dont have any basis and its not something recommended.

Both psychological knowledge and technical analysis are very important in trading.To be a successful trader one must do both psychological analysis and technical analysis.without technical analysis you cannot gain knowledge about trading rules and how to trade.Again without psychological control it will not be possible to set your psychological issues.But I would say that technical analysis is more important in trading.Psychological control is also required but it is slightly less important than technical analysis.Trading requires a lot of patience and good judgement.

Technical analysis work most of the time, bull run times to be precise but they don't effectively during bear market. You might have been practicing everything accordingly but from the way you describe your practice period interval, it might be between the time market was dipping, you should put your TA into learning now that that market is excited for Bitcoin Halving, you will understand better and your experience will also change.

Those who even enjoy trading are the traders that try to make something during bear market which you did, you're going to have a new experiment and the most memorable one if you explore this green charts but please remember to employ risk management.

There are traders that have been making using of the technical analysis and I've been making money from it without stress.
We need to learn technical analysis so we can always study the market and know what theme market could do in the next moments.
Technical analyse helps us to understand market structure and stay safe without much pressure because we can read and study the market to know what could happen in the next minutes.

Yes, technical analysis does work, serving as a great tool for traders to forecast future market movements based on past patterns and trends. However, I also do think that it's equally important to recognize that trading isn't just about the charts; the psychological aspect plays a crucial role as well. Understanding both market psychology and your own emotional responses to wins and losses can significantly impact trading decisions. These two elements — technical analysis and psychological mindset — work hand in hand, each reinforcing the other to create a more comprehensive approach to trading. Developing skills in both areas can lead to more informed decisions and potentially improved trading outcomes.

If you would like to discuss this further, you can contact me via my Discord: https://discord.gg/dCvaBZWNcG

Completely Agree, technical analysis is a cornerstone for alot of successful traders, helping them to decipher market trends and make informed decisions with confidence. By understanding and applying technical analysis, you can interpret market structures, forecast potential movements, and navigate the complexities of the market with a clearer perspective. Mastering technical analysis can lead to more strategic trading, minimizing stress and enhancing the potential for profitable outcomes. However, I do agree with op, it's also critical to acknowledge that trading goes beyond just chart analysis; the psychological dimension plays an important role as well.

If you would like to discuss this further, you can contact me via my Discord: https://discord.gg/dCvaBZWNcG

Various factors will affect the cryptocurrency market, together with some market manipulations that are still high and inevitable. With that, I also believe having technical analysis skills is not enough, as you can still lose a lot when when you trade in such unpredictable market.

However, if you have high risk management and patience from these market manipulations, you will overcome all of these manipulations. Then add to it your skills and proven working strategies, I guess trading in the market will still be more in profits more than losses.

TA is not made for perfection but just still a sort of market speculation but with some basis which is much better than speculating based on rumors. At least, having price charts helps us understand the situation. Whether it is for Bitcoin or altcoins, TA is very important in trading. We just imagine why this trading tool exists which obviously means that successful traders just tried to share their way of trading. If they see how it works, I don't think we just ignore it and never use it, especially for newbies.  

Sometimes they caught up with ideas that there are people so good with doing TA and they can earn 100% on each of there trade. And usually they fall into those scams especially if these people pretend to be an expert ask some investment and promise that they can also earn just riding with their trades. People need to know that market is unpredictable so however good you are doing those TA there is still mo guaranteed profit for anyone. Although its good that we know how to do that since we have good basis to use or for see what is the next possible movement could possibly happen on bitcoin or other coin they are trading. To bad if they ignore it since they can learn a lot from this especially if they want to engage on daily trades.

As a noob or you are really just that new into this field then it would be always suggested that you shouldnt't really be that making yourself that easily get fooled with those experts wannabe or to those veterans out there on which having those claims that they are indeed making good profits in trading up with this market. Its not bad to get some ideas from other traders but it not also that bad idea to go up solo and
would really be trying out to learn up things on your own or would really be that having those kind of thinking that you would really be able to survive this market without having usage of those.

You would be soon be able to realize on what are the things that you would really be needing up to consider on learning because you cant just make yourself have that making trades without having
these kind of considerations on which we know that it wouldnt really be that so easy if you are really just that relying with pure guess. This is why TA
learning or application is something that you would really be needing to consider out first before you would be able to proceed on.

Just think of going to school and focusing on only one subject. Then, when you are in your final year and want to graduate, you will start learning another subject and think you will understand the whole course you have been trained for in that school. However, just think of what you are trying to do. Trading cannot work without getting to know everything about it, so focusing on only psychological analysis will not work, and the market will not favour you because you still lack knowledge of trading in general. What about psychological games? Because I don’t know what you mean by that trading that I know requires technical analysis, emotional control, and some other things, you should use the amount of money you can afford to lose. So I will advise you to go back and learn before you continue trading.


The trading you are seeing is very risky. Whether you are a beginner or not, both lose in trading. So many things happen in the crypto market that some people don’t know; they just jump into the market. And that's why they always lose when they trade. Furthermore Whether you trade in an unpredictable market or not, you will still lose in trading. Just when you take these cautions and have the knowledge, your risk will be limited, and the loss won’t be much like someone who jumps into the market. 

Relying on technical analysis when trading is never 100% sure. As a trader, you need to back up yourself with skills and good experience in the market, and small amount of luck as well as we can never predict the future price of bitcoin and its market position. In addition, if you are only good with technicalities but not equipped with fundamentals and sentiments in the market, you will never win a trade.

Trade only when you are equipped with full package, otherwise your efforts to trade and risk of funds will only go into waste. That's why never trade if you think you're not ready and good enough.

There are traders that has been using the technical analysis to make money for themselves in the market and we need to know that it works very well for many. Trading is conservative and we need to use skills and some strategies to keep making money from the market and we don't really have to depend on our personal skills to make money in the market.
We can always world with people that have the time and experience to help us sail along in the same market so that we can keep making money for ourselves.

It is clear that we are all going to end up losing some money here and there when dealing with this, it doesn't mean that we are not going to get it, it just means that we are not going to really end up with any issues at all, we should consider this to be something that may change or not, and that's the most important part. I believe that we are going to end up seeing it change all the way into something that would take a while as well.

I can see that people see TA as the be all and they can make money that way without any mistakes, but that's not the case. It's just a way to make money better than otherwise, because if you use TA then you may make mistakes, and lose money but if you do not use it then you could lose even more money.

If you want to trade any coin then you must do technical analysis because if you don't do technical analysis then you will know how to pump up or down this coin. From my personal advice I can say that when I am tating, first of all I do technical analysis of the coin I select and try to understand the market readiness because if I can't analyze properly then I must face loss. But in investing, more analysis is required because fundamental analysis is very important along with technical analysis.

     Many of our communities do technical analysis in this field of the crypto space. And the problem is that the analysis is wrong, so the result is that they lose their strategy or their assets get stuck. You know my point.

     In short, it doesn't help either. But if the analysis we are doing is correct, obviously the result is helpful; it's that simple to understand, right? If we look at it literally, it seems that it is easy to analyze, but if we do not have an idea about the use of indicators, it will be difficult for us to get a proper analysis in the end.

TA might work but not all the time, even you will get different results when you use different combinations of indicators so that's how the technical analysis works and it's just an assumption of how market moved based on how market moved. Psychological knowledge is pretty simple, just buy low and sell high which needs patience and obviously you will acquire over time so don't think trading as your main source of income since it's impossible to have consistency in the results that will relieve the pressure on your head and will make you decide better moves.

So you are saying that besides trading I need to have additional source of money.. Although I don't do it professionally yet, I'm still trying to learn it. Already it has created a lot of hype that trading is very easy. But i think not. But presenting it so easily that new traders are coming in and losing their money..

Having trading as your main source of income is extremely risky and jeopardize your future if bad trades knock your capital value and also the pressure of making profits will actually make things harder than it actually is. You can see people claim that they made 10K with their 1K capital in just one month but it's possibly a lie to lure you for selling their trading course or paid signals which are absolute shit.

Youtube is not all garbage, for me there is quite good even though I have to be careful. and I prefer to see the live trading of these content creators. If you pay for their analysis and think that trading can be optimized, maybe there is some truth to it, but I would rather anticipate capital with the possibility of a small profit it will be more effective than the other way around, forcing to buy training but draining more capital there. Technical analysis sometimes goes against the laws of nature and I prefer the coin scenario that I am able to read, nothing is accurate but with enough capital it will have resilience even though within 1 month there is a minus but many can also recover these shortcomings.

For psychological, for me it will be easy to deal with small losses with large capital, rather than small capital and spend and certainly cannot trade again after that.

That is the point of making TA one of the important tools in trading that a trader must learn. We ain't to be 100% assured of profit returns but at least we have a bigger chance which is somewhat important in trading. Otherwise, we just consider trading as gambling and we only rely on luck. In fact, this commonly happens now because most traders enter trading with empty knowledge and some of them even rely on signals coming from (fake) experts. Unfortunately, they blame the market for their losses and mistakes which are supposedly for themselves. 

One should know how to filter their resources so you will not be in the misleading step. But with the aid of so many online resources these days, you will already understand which ones are fake and just doing it for the sake of views or money. Definitely, you need to equip yourself with right knowledge in trading, so you will understand if the creator is indeed making any sense of what he's doing. Don't be too gullible with what you are seeing over cyberspace.

I think technical analysis is still very important in trading. But in Crypto, fundamental analysis is more prominent in price movement. I don't care about any analysis technique, I'm after is the trend movement on the curve. I will do analysis at different time period to see if it is major or minor, and if I see a signs I will take an action. But, when my prediction was wrong in turn, I just cut loss and take other opportunities.

Doing technical analysis not easy when you face it. You must learn step by step until you got your trading style. In other situations, we must move quickly to get a moment. Do it slowly and control your emotions, don't run wild and greedy. We must fleksibel on doing analysis, and always learn to try other options of technical analysis so will give you god base.

That's a hard question to answer, and i guess it depends on what you mean by it "working".

Sure, you can use it as a tool, but it's not an exact science, or even close to it

History of the market action can be splitted to several different indicators, that can be used in several ways. But what's the right way to do that? I see everyone interpret the chart on their own way.
And since there are several ways people do it in very different ways, it's really hard to figure out if those indicators or combinations of them actually work even for that 51% of the time. Different marketcaps and different assets, different kind of charts and timeframes can behave differently from each other.

I personally haven't even looked any indicator probability data, and couldn't say if my TA was off, or if wrong outcome was just bad luck, because losses fit into that probability of losing (that always will exist).

What i believe is true, is that majority of people are somewhat stupid and behavior of masses is always somewhat predictable.  I couldn't say how accurate that would be though, but i believe it's a possibility to predict it. .

Some people will tell you that TA won't work when there's one person that can bring the market down, and while that's true, that means there's a slight change that will happen, and it will be calculated to the probability. But that doesn't prove TA itself wouldn't work.

Fundamental Analysis is the driving force of the market that means you have to get latest updates about the trending news of the market to know the overall market sentiment whether bullish or bearish, thereafter technical analysis comes into play a positive fundamental news means you should always buy based on TA and a negative news means selling, in case of psychological aspect of trading it's an individual training way of controlling emotions in trading it's also a very vital aspect of trading which a lot of traders usually ignored infact some experience traders usually paid for the service of psychologist to work on them with regards to their trading.

Then I should follow every Crypto Currency Twitter account. To be informed about the latest news all the time. This will increase my success rate a little more.

it's condescending to think that technical analysis alone predicts or dictates the directional bias of the movement.
Another relevant issue is the best timeframe that this analysis tends to work.

Looking at technical analysis without the fundamentals can place one in a zone of fugazi where your liquidity will be eaten by big sharks all because you were on the wrong side without studying the fundamentals.

However, Technical analysis combined with fundamental analysis has proven to be the best way. there are other fundamental and economic outlooks like time which are now essential.

 Technical Analysis works.
Technical Analysis has to do with the strategy you use to trade, you losing means your Analysis isn't right or your approach to the market is wrong.
Trading isn't all about Technical Analysis but every move in the market revolves around it, Psychology has to do with our emotions (Fear,greed,FOMO) all this affect us as traders, what we need do is to balance it because it can't be eliminated.
 Psychology doesn't exist without an edge, if a trader has a working strategy and uses proper risk management even he loses a trader, his mental health will still be balanced but when you are not inclined technically, practising poor risk management, that trader will surely blow his account.
  In essence before talking about Psychology, make sure you have the right approach to the market.
If that's not the case is just trying to be mentally fit after failing exam on a subject you know nothing about, if the reverse is the case you won't fail, even if you fail you will know your errors and surely bounce back in another one so is Psychology without Good Technical Analysis.
    Good technicals,proper risk management, psychology makes a good trader.

There is nothing wrong in following certain people on social media platforms to gather knowledge and information, but you need to remember that not everything you see or read on the internet is true and not every information is correct, so you should always have multiple sources to check the information that you find to be sure about the authenticity of the information and knowledge shared by anyone through any social media handle.

Talking about the success rate in trading, it is dependent on how you manage your trading activities. You should never be in a rush to make many trades in less time thinking that would earn you more money, it doesn't work that way. So, make sure that you are making trades where you have calculated the risks involved and know that the outcome wouldn't be too severe if it's negative.